Blockchain: 3 Chinese companies on 4 promote special projects

An informative report has highlighted that Asia and, in particular, China is now at the top of the geographical area that dominates the panorama of use of applications of blockchain for companies. What are the news? Let's find out in this guide!

The Global Blockchain Survey report 2019

The primacy of Asia in general and of China in particular has been confirmed by the Global Blockchain Survey 2019 the 1˚ July 2019 released by the Deloitte consulting company.

Within a sample of 1.400 companies at least 73% said that the development of the blockchain is among the first 5 priorities of the country.

Paul Sin, the consulting partner of Deloitte Advisory and also responsible for the Asia-Pacific Blockchain Lab section of Deloitte, said that China is now putting a lot of effort into promoting the blockchain to be used not as a means to increase productivity but as a strategic means.

At least the 53% of managers interviewed by Deloitte consider the blockchain a priority at company organization level.

The consulting company reported an increase in 10% compared to the 2018.
In the USA, instead, just to have a benchmark the percentage is equal to 56%.

The opinions of financial analysts on the blockchain

An eToro market analyst, Edoardo Fusco Femiano, he stressed that, in effect, China is today the first country in terms of launching initiatives in the blockchain sector.
This is a truly singular aspect, above all because China and the Beijing government are among the least favorable towards cryptocurrencies.
Only in April of this year various newspapers announced that China wanted to ban the mining of bitcoins and all other virtual currencies.
Analysts have confirmed that this unique approach demonstrates how politics and economics are separate and distinct worlds that must remain in different worlds on pain of not incurring disastrous effects.

New insurance with the blockchain

The insurance market has recently undergone various changes with the advent of the blockchain.

Many insurance companies, in fact, offered one blockchain platform of insurance policies. Among these, in particular, there is Aon PLC which, collaborating with Oxfam, Etherisc and InsurTech, has offered small farmers and breeders new products to deal with the absence of other convenient insurance products.

The operation took place in Sri Lanka and the national director of Oxfam has had the opportunity to say that the launch of this new platform has marked a real turning point in risk management in an economy like that of Sri Lanka.

Also on this transaction, the eToro Femiano analyst commented, pointing out that many Asian countries are seizing the opportunity of blockchain technology and are abandoning the derivatives based products, which present a high risk margin.